Refer to the information for Titanic Corporation above. Titanic Corporations net income for the year ended December

Question:

Refer to the information for Titanic above.
Titanic Corporation’s net income for the year ended December 31, 2011, is $380,000. On June 30, 2011, a $0.75 per share cash was declared for all common stockholders.
Common stock in the amount of 38,000 shares was outstanding at the time. The market price of Titanic’s stock at year-end (12/31/11) is $18 per share. Titanic had a $1,100,000 credit balance in retained earnings at December 31, 2010.

Required:
Calculate the ending balance (12/31/11) of retained earnings. Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...